AMENDMENT NO. 1 TO GUARANTEE AND COLLATERAL AGREEMENT
Exhibit 10.12
AMENDMENT NO. 1
TO
GUARANTEE AND COLLATERAL AGREEMENT
This AMENDMENT NO. 1 to the GUARANTEE AND COLLATERAL AGREEMENT (as defined below), dated as of November 1, 2007 (this “Amendment”), is entered into among HD SUPPLY, INC., a Delaware corporation (the “Borrower”), the Subsidiary Guarantors party hereto, XXXXXXX XXXXX CAPITAL CORPORATION, as collateral agent and administrative agent for the banks and other financial institutions party to the Credit Agreement, and amends the Guarantee and Collateral Agreement. Capitalized terms used herein and not otherwise defined herein shall have the meanings ascribed to them in the Guarantee and Collateral Agreement.
W I T N E S S E T H:
WHEREAS, the Guarantee and Collateral Agreement dated as of August 30, 2007 (as may be further amended, supplemented or otherwise modified from time to time, the “Guarantee and Collateral Agreement”) was entered into among the Borrower, the Subsidiary Guarantors party thereto, XXXXXXX XXXXX CAPITAL CORPORATION, as collateral agent (in such capacity, the “Collateral Agent”) and administrative agent (in such capacity, the “Administrative Agent”) for the banks and other financial institutions party to the Credit Agreement;
WHEREAS, Section 9.1 of the Guarantee and Collateral Agreement provides that the Guarantee and Collateral Agreement may be amended, modified and waived from time to time;
NOW, THEREFORE, in consideration of the premises and for other good and valuable consideration (the receipt and sufficiency of which is hereby acknowledged), the parties hereto hereby agree as follows:
SECTION ONE Amendments.
1. Subsection 1.1 of the Guarantee and Collateral Agreement is amended as follows: The definition of “Borrower Obligations” shall be amended by adding “(but in the case of such Interest Rate Agreements, Currency Agreements, Commodities Agreements or Bank Products Agreements, only to the extent comprising Cash Flow Obligations (as defined in the Intercreditor Agreement))” after the reference therein to “any Lender”.
SECTION TWO Conditions to Effectiveness. This Amendment shall become effective when the Collateral Agent shall have executed a counterpart of this Amendment and received counterparts of this Amendment executed by each of the Granting Parties.
SECTION THREE Reference to and Effect on the Guarantee and Collateral Agreement. On and after giving effect to this Amendment, each reference in the Guarantee and Collateral Agreement to “this Agreement,” “hereunder,” “hereof” or words of like import referring to the Guarantee and Collateral Agreement , and each reference in each of the Loan Documents to “the Guarantee and Collateral Agreement ,” “thereunder,” “thereof” or words of like import referring to the Guarantee and Collateral Agreement , shall mean and be a reference to the Guarantee and Collateral Agreement as amended by this Amendment. The Guarantee and Collateral Agreement , as specifically amended by this Amendment, is and shall continue to be in full force and effect and is hereby in all respects ratified and confirmed. The execution, delivery and effectiveness of this Amendment shall not, except as expressly provided herein, operate as a waiver of any right, power or remedy of any Secured Party or any Agent under any of the Loan Documents, nor constitute a waiver of any provision of any of the Loan Documents.
SECTION FOUR Costs and Expenses. Each of the Granting Parties jointly and severally agree to pay all reasonable out-of-pocket costs and expenses of the Collateral Agent incurred in connection with the preparation, execution and delivery of this Amendment and the other instruments and documents to be delivered hereunder, if any (including, without limitation, the reasonable fees and expenses of Xxxxxx Xxxxxx & Xxxxxxx LLP, counsel to the Collateral Agent).
SECTION FIVE Execution in Counterparts. This Amendment may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute but one and the same agreement. Delivery of an executed counterpart of a signature page to this Amendment by telecopier or electronic mail shall be effective as delivery of a manually executed counterpart of this Amendment.
SECTION SIX Governing Law. THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK WITHOUT GIVING EFFECT TO ITS PRINCIPLES OR RULES OF CONFLICT OF LAWS TO THE EXTENT SUCH PRINCIPLES OR RULES ARE NOT MANDATORILY APPLICABLE BY STATUTE AND WOULD REQUIRE OR PERMIT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION.
[Signature Pages Follow]
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| HD SUPPLY, INC. | ||||
| By: | /s/ Xxxxxxx Xxxxx | |||
| Name: | Xxxxxxx Xxxxx | |||
| Title: | Vice President and Secretary | |||
[Amendment No. 1 to the Cash Flow Guarantee and Collateral Agreement]
| ARVADA HARDWOOD FLOOR COMPANY |
| BRAFASCO HOLDINGS II, INC. |
| BRAFASCO HOLDINGS, INC. |
| XXX LUMBER CO. |
| CREATIVE TOUCH INTERIORS, INC. |
| FLOORS, INC. |
| FLOORWORKS, INC. |
| GRAND FLOOR DESIGNS, INC. |
| HD BUILDER SOLUTIONS GROUP, INC. |
| HD SUPPLY CONSTRUCTION SUPPLY GROUP, INC. |
| HD SUPPLY FACILITIES MAINTENANCE GROUP, INC. |
| HD SUPPLY FASTENERS & TOOLS, INC. |
| HD SUPPLY GP & MANAGEMENT, INC. |
| HD SUPPLY MANAGEMENT, INC. |
| HD SUPPLY PLUMBING/HVAC GROUP, INC. |
| HD SUPPLY SUPPORT SERVICES, INC. |
| HD SUPPLY UTILITIES GROUP, INC. |
| HD SUPPLY WATERWORKS GROUP, INC. |
| SUNBELT SUPPLY CANADA, INC. |
| UTILITY SUPPLY OF AMERICA, INC. |
| WHITE CAP CONSTRUCTION SUPPLY, INC. |
| WORLD-WIDE TRAVEL NETWORK, INC. |
| By: | /s/ Xxxxxxx Xxxxx | |||
| Name: | Xxxxxxx Xxxxx | |||
| Title: | Vice President and Secretary | |||
[Amendment No. 1 to the Cash Flow Guarantee and Collateral Agreement]
| HD SUPPLY DISTRIBUTION SERVICES, LLC | ||||
| By: | HD Supply GP & Management, Inc., its manager | |||
| By: | /s/ Xxxxxxx Xxxxx | |||
| Name: | Xxxxxxx Xxxxx | |||
| Title: | Vice President and Secretary | |||
| HD SUPPLY REPAIR & REMODEL, LLC | ||||
| By: | HD Supply GP & Management, Inc., its manager | |||
| By: | /s/ Xxxxxxx Xxxxx | |||
| Name: | Xxxxxxx Xxxxx | |||
| Title: | Vice President and Secretary | |||
| PROVALUE, LLC | ||||
| By: | HD Supply Support Services, Inc., its managing member | |||
| By: | /s/ Xxxxxxx Xxxxx | |||
| Name: | Xxxxxxx Xxxxx | |||
| Title: | Vice President and Secretary | |||
| SOUTHWEST STAINLESS, L.P. | ||||
| By: | HD Supply GP & Management, Inc., its general partner | |||
| By: | /s/ Xxxxxxx Xxxxx | |||
| Name: | Xxxxxxx Xxxxx | |||
| Title: | Vice President and Secretary | |||
[Amendment No. 1 to the Cash Flow Guarantee and Collateral Agreement]
| XXXXXXXX BROS. LUMBER COMPANY, LLC | ||||
| By: | HD Supply GP & Management, Inc., its manager | |||
| By: | /s/ Xxxxxxx Xxxxx | |||
| Name: | Xxxxxxx Xxxxx | |||
| Title: | Vice President and Secretary | |||
| HD SUPPLY CONSTRUCTION SUPPLY, LTD. | ||||
| By: | HD Supply GP & Management, Inc., its general partner | |||
| By: | /s/ Xxxxxxx Xxxxx | |||
| Name: | Xxxxxxx Xxxxx | |||
| Title: | Vice President and Secretary | |||
| HD SUPPLY ELECTRICAL, LTD. | ||||
| By: | HD Supply GP & Management, Inc., its general partner | |||
| By: | /s/ Xxxxxxx Xxxxx | |||
| Name: | Xxxxxxx Xxxxx | |||
| Title: | Vice President and Secretary | |||
| HD SUPPLY FACILITIES MAINTENANCE, LTD. | ||||
| By: | HD Supply GP & Management, Inc., its general partner | |||
| By: | /s/ Xxxxxxx Xxxxx | |||
| Name: | Xxxxxxx Xxxxx | |||
| Title: | Vice President and Secretary | |||
[Amendment No. 1 to the Cash Flow Guarantee and Collateral Agreement]
| HD SUPPLY HOLDINGS, LLC | ||||
| By: | HD Supply GP & Management, Inc., its manager | |||
| By: | /s/ Xxxxxxx Xxxxx | |||
| Name: | Xxxxxxx Xxxxx | |||
| Title: | Vice President and Secretary | |||
| HD SUPPLY PLUMBING/HVAC, LTD. | ||||
| By: | HD Supply GP & Management, Inc., its general partner | |||
| By: | /s/ Xxxxxxx Xxxxx | |||
| Name: | Xxxxxxx Xxxxx | |||
| Title: | Vice President and Secretary | |||
| HD SUPPLY UTILITIES, LTD. | ||||
| By: | HD Supply GP & Management, Inc., its general partner | |||
| By: | /s/ Xxxxxxx Xxxxx | |||
| Name: | Xxxxxxx Xxxxx | |||
| Title: | Vice President and Secretary | |||
| HD SUPPLY WATERWORKS, LTD. | ||||
| By: | HD Supply GP & Management, Inc., its general partner | |||
| By: | /s/ Xxxxxxx Xxxxx | |||
| Name: | Xxxxxxx Xxxxx | |||
| Title: | Vice President and Secretary | |||
[Amendment No. 1 to the Cash Flow Guarantee and Collateral Agreement]
| MADISON CORNER, LLC | ||||
| By: | Xxx Lumber Co., its manager | |||
| By: | /s/ Xxxxxxx Xxxxx | |||
| Name: | Xxxxxxx Xxxxx | |||
| Title: | Vice President and Secretary | |||
| PARK-EMP, LLC | ||||
| By: | Xxx Lumber Co., its manager | |||
| By: | /s/ Xxxxxxx Xxxxx | |||
| Name: |
Xxxxxxx Xxxxx | |||
| Title: |
Vice President and Secretary | |||
| HDS IP HOLDING, LLC | ||||
| By: | /s/ Xxxxxxx Xxxxx | |||
| Name: |
Xxxxxxx Xxxxx | |||
| Title: |
Vice President | |||
[Amendment No. 1 to the Cash Flow Guarantee and Collateral Agreement]
| HDS IP HOLDING, LLC | ||||
| By: | /s/ Xxxxxxx Xxxxx | |||
| Name: | Xxxxxxx Xxxxx | |||
| Title: | Vice President | |||
| HD SUPPLY CANADA INC. | ||||
| By: | /s/ Xxxxxxx Xxxxx | |||
| Name: | Xxxxxxx Xxxxx | |||
| Title: | Vice President and Secretary | |||
| PRO CANADA HOLDINGS I, ULC | ||||
| By: | /s/ Xxxxxxx Xxxxx | |||
| Name: | Xxxxxxx Xxxxx | |||
| Title: | Vice President and Secretary | |||
[Amendment No. 1 to the Cash Flow Guarantee and Collateral Agreement]
| XXXXXXX XXXXX CAPITAL CORPORATION, as Administrative Agent and Collateral Agent | ||||
| By: | /s/ Xxx Xxxxxxx | |||
| Name: | Xxx Xxxxxxx | |||
| Title: | Vice President | |||
